The residential segment remains the cornerstone of the resale market, with houses accounting for the highest total transaction value—reaching €190.3 million across 552 transactions, according to Landbank Analytics' new data on the secondary residential property market in Cyprus, focusing on sales recorded during the first half of 2025.
Apartments followed with a slightly lower total value of €185 million, although they recorded significantly higher sales volume. A total of 1,162 apartment transactions were recorded —more than double the number of house sales—indicating particularly strong activity in this category, largely driven by demand for more affordable housing options.
As with the new-build segment, houses and apartments continue to act as the engine of the secondary market, drawing the majority of investor interest and reaffirming the enduring value of real estate in the eyes of buyers.
Regional data paints a diverse picture, with each district showing unique dynamics in both volume and average prices. The analysis reveals buyer preferences and prevailing price levels across Nicosia, Limassol, Larnaca, Paphos, and Famagusta.
Nicosia: Apartments in high demand
In the capital, apartments clearly lead the market, with 458 sales recorded in the first half of the year—nearly three times more than house sales. The average apartment price stood at €143,118. In contrast, houses recorded 163 sales, but with a much higher average price of €283,641.
Limassol: The capital of high prices
Limassol remains the most expensive district for both property types. The average price of a resale house reached €527,252 (across 122 sales), the highest in Cyprus. Apartments also fetched notably high prices, with 201 sales and an average price of €261,378, reflecting ongoing strong demand in the city.
Larnaca: Balanced market, apartment-driven
Larnaca saw 220 apartment sales, with an average price of €142,161—similar to that of Nicosia. Houses followed with 126 transactions and an average price of €249,382, illustrating a balanced but layered market across segments.
Paphos: High volume of apartments, expensive houses
In Paphos, apartments once again led in transaction volume, with 203 sales recorded—the lowest average price in Cyprus at €129,774. However, resale houses in Paphos had the second-highest average price after Limassol, reaching €386,828 from 90 sales.
Famagusta: More affordable prices
In the free area of Famagusta, market activity was more limited, but with a clear preference for apartments. There were 80 apartment sales, with an average price of €115,664—the second-lowest nationwide. Houses followed with 51 sales at an average price of €264,039.
A market of diversity and resilience
Andreas Christophorides, CEO of Landbank Group, commented: "This analysis highlights the diversity and momentum of the Cypriot market. What we’re observing is a multi-speed landscape, with each district showcasing its own distinct identity.
On one end, Limassol continues to lead in value, underscoring its role as a powerful business and investment hub. At the same time, in Nicosia, Larnaca, and Paphos apartment sales dominate in volume, driven by strong demand for affordable, permanent housing and compelling investment returns.
Our analysis doesn’t just present numbers—it reflects the underlying socioeconomic forces shaping the market. The sector’s resilience and adaptability—offering varied options across different price levels—signals a phase of maturity and sustained opportunity for both buyers and investors.”
